Friday, 30 August 2019

Merger of banks

   Taking a big decision, the central government has announced a merger of several banks. Finance Minister Nirmala Sitharaman said that United Bank, Oriental Bank of Commerce and Punjab National Bank will merge. 
 
   On the other hand, Canara Bank and Syndicate Bank will also be merged together. Similarly, Union Bank, Andhra Bank and Corporation Bank will also be merged. 
  Indian Bank and Allahabad Bank will also merge together. With this big announcement by the central government, now the number of public sector banks in the country will come down to 12. 
   The Finance Minister said that the decisions taken by the government have begun to be implemented.
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